Updated Jan 11, 2023 08:18

Tin Bar Market in Kuwait

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
The Kuwaiti tin bar market expanded sharply to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a resilient increase. Tin bar consumption peaked at $ in 2011; however, from 2012 to , consumption remained at a lower figure.

In value terms, tin bar production expanded rapidly to $ in estimated in export price. Over the period under review, production showed prominent growth. The growth pace was the most rapid in 2009 when the production volume increased by %. Tin bar production peaked at $ in 2011; however, from 2012 to , production remained at a lower figure.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
Tin bar consumption in Kuwait expanded sharply to tons in , with an increase of % compared with the year before. Over the period under review, consumption showed a strong increase. Tin bar consumption peaked at tons in ; however, from to , consumption remained at a lower figure.

The size of the tin bar market in Kuwait totaled $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a resilient expansion. Tin bar consumption peaked at $ in 2011; however, from 2012 to , consumption stood at a somewhat lower figure.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by increasing demand for tin bar in Kuwait, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Please note: Annual data for 2022 are preliminary and subject to revision
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . Kuwait domestic supply is expected to continue its growth. Over the period under review, the share of imports in terms of total tin bar consumption in Kuwait was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Kuwait tin bar market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Please note: Annual data for 2022 are preliminary and subject to revision
Kuwait remains a net importer of tin bar; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $.